New Delhi, July 3 (IANS) In a significant decision, the Lok Sabha Secretariat has said that Parliamentary panel meetings can start, but with members maintaining a distance of 6 feet from each other. This relaxation comes after Unlock 2.0 kicked in on July 2.
"Ministry/Departments appearing before the committee may be advised to restrict the number of officials to a maximum of five," the notification reads.
Gone are the days of carrying papers and bulky files. The new notification also demands that circulation of documents, if and when should be in soft copy format. Which essentially means it will be e-mailed with an attachment to the Members of Parliament. Parliamentary panels call different officials before them for clarifications. Now they cannot carry bags or files along with them, either, according to the new notification.
Meanwhile, before entering all members will be given sanitisers to clean their hands of any germs.
Reconvening such panel meets has been a longstanding demand. Even requests for virtual meetings were turned down by Lok Sabha Speaker Om Birla and Rajya Sabha Chairman Venkaiah Naidu.
But now, with demand for such meetings growing louder by the day, particularly by opposition leaders, this has been worked out. It will also work as a test case on the feasibility of convening a monsoon session with physical presence of all members. Meanwhile, both Birla and Naidu have held a series of meetings exploring possibility of holding a monsoon session of Parliament.
On March 23 this year, after TMC MP Derek O Brien went into self quarantine and another member MP Dushyant Singh was seen with singer Kanika Kapoor who later tested positive, a scare gripped the two houses. Following that, the Budget session was adjourned sine die prematurely. Ever since, the government announced a full lockdown except on essential services.
New Delhi, Aug 8 (IANS) Public sector banks would need to increase their provisioning buffer factoring in the incremental provisioning requirement on restructured loans and potential NPAs, a report said.
To discourage rampant and unviable restructuring, the RBI has now mandated that banks will be required to make high provisions at 10 per cent on restructured retail/corporate loans (20 per cent on corp loans for banks outside inter-creditor agreement).
According to analysts, higher provisioning cost would deter unwarranted restructuring. But, this would put pressure on the PSBs to accelerate the pace of increasing their provisioning buffer or disallow restructuring, even in genuine case of stress due to the Covid-19 pandemic.
"Assuming Covid-19-induced stressed loans at 10-15 per cent and at least 50 per cent restructured in the worst case, our rough calculations show systemic level immediate additional provisioning cost at 10 per cent could be 50-75 bps," Emkay Global Financial Services said in a report.
This would mean certain banks would fare better while restructuring loans under stress owing to the pandemic. While ICICI/Axis carry contingent provisions of 125-130 bps, HDFCB/KMB/IIB/RBL have around 60 bps. But large PSBs have contingent provisions of just 10-15 bps.
"Thus, we believe that some banks may have to further accelerate their provisioning buffer, factoring in the incremental provisioning requirement on restructured loans and potential NPAs," Emkay said in its report.
The provision required for restructured loans, however, provides for reversal of 50 per cent of provisioning on retail loans in case the borrower pays 20 per cent residual debt, and the balance 50 per cent on payment of another 10 per cent without slipping into NPA.